Open AccessLINKAGE MEASURES OF THE REAL ESTATE SECTOR CONSIDERING THE EFFECT OF CAPITAL
Author(s) -
Yu Song,
Chunlu Liu,
Craig Langston
Publication year - 2006
Publication title -
international journal of strategic property management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.43
H-Index - 30
eISSN - 1648-9179
pISSN - 1648-715X
DOI - 10.3846/1648715x.2006.9637549
Subject(s) - linkage (software) , real estate , capitalization rate , order (exchange) , capital (architecture) , cost approach , measure (data warehouse) , real estate investment trust , capital good , economics , real estate development , sector model , econometrics , corporate real estate , economic sector , business , finance , economy , computer science , goods and services , geography , data mining , biochemistry , chemistry , archaeology , gene , agriculture
A significant limitation in previous linkage relevant research is that the flow of capital goods is not addressed. Using the OECD input‐output tables, this research first generates a new input‐output model considering capital as an intermediate factor. Using the new model, the real estate linkages are re‐calculated and investigated in order to evaluate appropriately the impact of the real estate sector on national economies. The findings verify that the linkages of the real estate sector were extremely underestimated in previous research. A correct linkage measure of the real estate sector can contribute to produce correct information corresponding to the sectors responsible for the economic growth during the period under study and provide substantial contributions towards guiding the appropriate strategies for future economic development.